Cairo: Preparations have intensified to strengthen trade relations between India and Egypt and open new avenues of investment. Union Commerce and Industry Minister Piyush Goyal has said that India wants to increase trade with Egypt as well as make market access easier for Indian goods and services there. Apart from this, efforts are also being made to promote Egyptian products and investments in the Indian market.
Speaking at an event organized by the Indian community in Egypt in Cairo, Goyal said that at present there is bilateral trade of about 6.5 billion US dollars between the two countries. However, given the size of both economies, this is just the beginning. According to him, the possibilities for trade expansion between India and Egypt are unlimited.
In the financial year 2025-26, India exported $3.87 billion to Egypt, while imports from there were $2.60 billion. Major products exported from India to Egypt include meat and poultry products, petroleum products, organic chemicals, cotton and machinery. At the same time, India mainly imports crude petroleum, fertilizers, cotton and minerals from Egypt.
Trade should be beneficial for both countries
Goyal said that India is exploring investment opportunities in Egypt. There is also an effort to attract investment within the Indian market in areas with special capabilities of Egypt. He clarified that the nature of trade should be such that both the countries benefit. For this, there is a need to take the existing business relations to a broader level.
A 132-member Indian business delegation has also accompanied the Union Minister who is on a two-day visit to Egypt. During this, he will meet the Egyptian business community and senior leaders. Measures to increase cooperation in the field of trade and investment will be discussed in the meetings.
Scope to increase investment from Egypt to India
The Union Minister said that between April 2000 and June 2026, Foreign Direct Investment (FDI) from Egypt to India has been only $ 11.5 million. In such a situation, there is a lot of potential to expand investment cooperation between the two countries.
Goyal said that India has given prominence to trade in its economic agenda. The country is opening its markets to global competition and is working with friendly countries to provide markets to Indian goods and services on priority basis.
Work on trade agreements with many countries
According to Goyal, in the last five years India has implemented trade agreements with Mauritius, Australia, United Arab Emirates (UAE), Oman, European Free Trade Association, New Zealand and Britain. A trade deal with the EU is planned to be signed next month.
Apart from this, talks are also going on with Canada, Chile, South Africa-led Southern African Customs Union (SACU), Brazil-led Southern Common Market (Mercosur) and Russia-led Eurasian Economic Union (EAEU).
He said that through these agreements, India will get the opportunity to get special concessional access for its products to a market worth about $85 trillion out of a global gross domestic product (GDP) market of $115 trillion.
During the program, Goyal also suggested the Indian community living in Egypt to prepare a business guide to strengthen contacts between businessmen of the two countries.
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